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Goldman Sachs Backs Microsoft Despite Azure Growth Concerns

2/14/2026

Summary

Story summary

Goldman Sachs maintains a buy rating on Microsoft and sets a 12-month price target of $600, saying concerns about AI disruption and slow Azure growth are exaggerated and present a buying opportunity.
Microsoft shares have fallen 17% in 2026 after an earnings report showed Azure revenue growth at 39%, below expectations.
Analyst Gabriela Borges notes Microsoft is prioritizing capital expenditures on internal projects, potentially delaying Azure monetization.

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Story summary

Goldman Sachs maintains a buy rating on Microsoft and sets a 12-month price target of $600, saying concerns about AI disruption and slow Azure growth are exaggerated and present a buying opportunity.
Microsoft shares have fallen 17% in 2026 after an earnings report showed Azure revenue growth at 39%, below expectations.
Analyst Gabriela Borges notes Microsoft is prioritizing capital expenditures on internal projects, potentially delaying Azure monetization.